Peru finance minister says GDP likely not up more than 6 pct in 2014

Reuters Staff

2 Min Read

LIMA, April 10 (Reuters) - Peru’s economic slowdown has bottomed out but more robust growth in coming months will probably not result in an expansion greater than 6 percent this year, the finance minister said on Thursday.

“We are revising our forecasts obviously given new information, but I don’t think it will be an upward revision,” Castilla told reporters. “That much I can say.”

Peru’s economy, which expanded at an annual average rate of around 6.5 percent over the past decade, slowed to growth of 5 percent in 2013 as global prices for the Andean country’s mineral exports weakened and domestic demand mellowed.

Castilla said gross domestic product probably rose 5.6 percent last year if a new calculation method were used.